Auto Exemption Questions

[Hope2File]

Something is unclear to me about the auto exemption. The bankruptcy code indicates 'motor vehicle' to 3200 or whatever the exact amount is. Does this mean one vehicle only? Also would it cover a non-automobile motor vehicle? We have 3 cars & a snowmobile and all of those would be covered by the doubled motor vehicle exemption if allowed.

Also, does it matter who the vehicles are titled to? 3 of our vehicles are titled in my name only (not my husband) just because it is a pain to get both of us to the SOS to sign titles, etc. So I'm just wondering if I can still double that exemption even though the vehicles are all in my name (even though he is the one who uses 2 of them).

Stupid question - you don't have to exempt a vehicle that is 100%+ secured, right? Sorry its getting late, I'm tired and have a goal to get these forms done this weekend.

[JoeBankrupt33]

I'm assuming you're using the federal exemptions. If so, then the exemption covers 1 motor vehicle, though I'm pretty sure it's doubled for a joint petition. I don't know about the titling issues.

The snowmobile would not be covered as a vehicle.

As for the vehicle that is 100% secured, it is not necessary to exempt, though it must still appear on schedule B, and other places. I would try to exempt it with a nominal amount (like $10) using the wildcard just in case the trustee argues the value of the car. Use the auto exemption for the 2 cars you have equity in.

[BobMango]

If you are using the federal exemptions and don't need to protect a house (i.e. no equity or don't have a house), you can swing that to any asset you want. If you're married you can double the exemptions, so under the federal wildcard you have just under $22K of wildcard exemptions.

And if the vehicle is 100% secured you don't need to protect it, just reaffirm or "retain and pay" as my attorney advised me to do.

[outofcontro2]

exemption

so what if i have a computer i need & use for school? will it be taken from me? cant finish without one.....

[outofcontro2]

also i see that it ask for food and apparel. how does one tally that up and will the take my clothes and food? this bankruptcy thing is stressing me out! please help w/ any advice u can...thanks